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Joined December 2014
THREAD: Here's a quick summary of the our takeaways on money laundering in cryptocurrency. bit.ly/3u3v2KK
Money laundering is the key to cryptocurrency-based crime, but is facilitated by a surprisingly small group of key players. How small? In 2020, 55% of funds sent from illicit addresses - $1.3B worth of cryptocurrency - went to 270 service deposit addresses blog.chainalysis.com/reports…
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2021's Chinese New Year has arrived! Wishing everyone a safe and prosperous Year of The Ox. Gong xi fa cai! 🎉 🎊
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THREAD: As a quick preview, here are a few key findings from our 2021 Crypto Crime Report, just out today.
Our 2021 Crypto Crime Report is here! Get 100+ pages of original data, research, & case studies on the latest trends in cryptocurrency-related crime, such as the ransomware spike, concentration in money laundering, darknet markets' difficulties, and more. bit.ly/3rEp9RW
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Some good news first and foremost: Criminal activity represented just 0.34% of all cryptocurrency transaction volume in 2020 -- roughly $10B in USD. That’s a huge decrease from last year. bit.ly/3rEp9RW
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But ransomware bucked that trend. Ransomware attackers stole 4x more from victims in 2020. Using blockchain analysis, we found connections btwn some of 2020’s biggest ransomware strains -- both affiliate overlap and shared money laundering infrastructure. bit.ly/3rEp9RW
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Darknet markets also did more business in 2020. At the same time though, individual purchases fell, as did the number of active markets amid shutdowns and exit scams. Competitive forces appear to be causing consolidation in DNMs. bit.ly/3rEp9RW
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Scam revenue plummeted in 2020, with no scams approaching the large-scale Ponzi schemes of previous year’s like PlusToken. Our report goes in-depth on Mirror Trading International, which took in nearly $600M worth of cryptocurrency in 2020. bit.ly/3rEp9RW
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More good and bad news: Less cryptocurrency overall was stolen in exchange hacks in 2020. But the DPRK-associated Lazarus Group pulled off one of the biggest ever exchange hacks, taking $275M+ worth, then moved the funds to mixers and DeFi platforms. bit.ly/3rEp9RW
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Finally, we take an in-depth look at the surprisingly concentrated money laundering ecosystem that drives all other cryptocurrency-based crime. bit.ly/3rEp9RW
Money laundering is the key to cryptocurrency-based crime, but is facilitated by a surprisingly small group of key players. How small? In 2020, 55% of funds sent from illicit addresses - $1.3B worth of cryptocurrency - went to 270 service deposit addresses blog.chainalysis.com/reports…
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Download the report to read these stories and more. bit.ly/3rEp9RW
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We’ll also be hosting a two-part Crypto Crime webinar series, airing live February 18th and 26th at 11am ET. Sign up here -- even if you can’t attend live, we’ll email you the recordings. go.chainalysis.com/2021-cryp…
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Chainalysis retweeted
When the @chainalysis Crypto Crime Report hit my inbox earlier this afternoon:
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Chainalysis retweeted
It's here!! Be sure to check out this years #cryptocrime report from the @chainalysis (cl) team⬇️⬇️⬇️
Our 2021 Crypto Crime Report is here! Get 100+ pages of original data, research, & case studies on the latest trends in cryptocurrency-related crime, such as the ransomware spike, concentration in money laundering, darknet markets' difficulties, and more. bit.ly/3rEp9RW
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Chainalysis retweeted
Reading now->
Our 2021 Crypto Crime Report is here! Get 100+ pages of original data, research, & case studies on the latest trends in cryptocurrency-related crime, such as the ransomware spike, concentration in money laundering, darknet markets' difficulties, and more. bit.ly/3rEp9RW
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Chainalysis retweeted
It's here! @chainalysis 2021 Crypto Crime Report is available today and discusses ransomware, darknet markets, money laundering and more. Click to download! go.chainalysis.com/2021-Cryp…
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Chainalysis retweeted
The @chainalysis Crypto Crime Report just dropped and it is jam-packed with fantastic insights. If you're in an #AML / financial crime risk management role this is required reading. go.chainalysis.com/2021-Cryp…
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Money laundering is the key to cryptocurrency-based crime, but is facilitated by a surprisingly small group of key players. How small? In 2020, 55% of funds sent from illicit addresses - $1.3B worth of cryptocurrency - went to 270 service deposit addresses blog.chainalysis.com/reports…
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North Korea-affiliated cybercrime syndicate Lazarus Group carried out the biggest cryptocurrency exchange hack of 2020, and the third-largest of all time. Learn more here. blog.chainalysis.com/reports…
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